British International Freight Association Annual Report and Accounts ...

Report of the
Independent Auditors
to the Members of the British International Freight Association
We have audited the financial statements of
the British International Freight Association
for the year ended 31 December 2008 which
comprise the Income and Expenditure
account, the Balance Sheet and the related
notes. These financial statements have been
prepared under the accounting policies
set out therein and the requirements of the
Financial Reporting Standard for Smaller
Entities (effective January 2007).
This report is made solely to the company’s
Members, as a body, in accordance with
Section 235 of the Companies Act 1985.
Our audit work has been undertaken so that
we might state to the company’s Members
those matters we are required to state to
them in an auditor’s report and for no other
purpose. To the fullest extent permitted
by law, we do not accept or assume
responsibility to anyone other than the
company and the company’s Members as
a body, for our audit work, for this report, or
for the opinions we have formed.
Respective Responsibilities of the
Directors and Auditors
The Directors’ responsibilities for the
Annual Report and the financial statements
in accordance with applicable law and
United Kingdom Accounting Standards
(United Kingdom Generally Accepted
Accounting Practice) are set out in the
statement of Directors’ Responsibilities
in the Directors’ Report.
Our responsibility is to audit the financial
statements in accordance with relevant legal
and regulatory requirements and International
Standards on Auditing (UK and Ireland). We
report to you our opinion as to whether the
financial statements give a true and fair view
and are properly prepared in accordance with
the Companies Act 1985. We also report to
you whether in our opinion the information
given in the Directors’ Report is consistent
with the financial statements.
In addition we report to you if, in our opinion,
the company has not kept proper accounting
records, or if we have not received all the
information and explanations we require
for our audit, or if information specified
by law regarding Directors’ remuneration
and transactions with the company is not
disclosed.
We read other information contained in
the Annual Report and consider whether
it is consistent with the audited financial
statements. This other information
comprises only the Directors’ Report,
President’s Report, Chairman’s Report and
Director General’s Report. We consider the
implications for our report if we become
aware of any apparent misstatements or
material inconsistencies with the financial
statements. Our responsibilities do not
extend to any other information beyond that
referred to in this paragraph.
Basis of Audit Opinion
We conducted our audit in accordance with
International Standards on Auditing (UK and
Ireland) issued by the Auditing Practices
Board. An audit includes examination, on
a test basis, of evidence relevant to the
amounts and disclosures in the financial
statements. It also includes an assessment
of the significant estimates and judgements
made by the Directors in the preparation
of the financial statements, and of whether
the accounting policies are appropriate to
the company’s circumstances, consistently
applied and adequately disclosed.
We planned and performed our audit so as
to obtain all the information and explanations
which we considered necessary in order
to provide us with sufficient evidence
to give reasonable assurance that the
financial statements are free from material
misstatement, whether caused by fraud
or other irregularity or error. In forming
our opinion we also evaluated the overall
adequacy of the presentation of information
in the financial statements.
Opinion
In our opinion:
• the financial statements give a true and fair
view, in accordance with United Kingdom
Generally Accepted Accounting Practice
applicable to Smaller Entities, of the state
of the company’s affairs as at 31 December
2008 and of its result for the year then
ended; and
• the financial statements have been
properly prepared in accordance with the
Companies Act 1985.
• the information given in the Directors’
Report is consistent with the financial
statements.
Alliotts
Chartered Accountants
& Registered Auditors
Friary Court
13-21 High Street
Guildford
Surrey GU1 3DL
2 April 2009
BIFA Annual Report and Accounts 2008 15